BRIEF—Theravance Biopharma Inks deal with Pfizer

Ireland-incorporated Theravance Biopharma and US pharma giant Pfizer have entered into a global license agreement for the former’s preclinical program for skin-targeted, locally-acting pan-Janus kinase (JAK) inhibitors that can be rapidly metabolized.

The compounds in this program target validated pro-inflammatory pathways and are specifically designed to possess skin-selective activity with minimal systemic exposure.

Under the terms of the agreement, Theravance will receive an upfront cash payment of $10 million and will be eligible to receive up to an additional $240 million in development and sales milestone payments from Pfizer.

In addition, Theravance will be eligible to receive royalties on worldwide net sales of any potential products emerging from the program.

"We believe that this global agreement with Pfizer provides further validation of our unique expertise in the discovery and development of innovative, organ-selective JAK inhibitors. As a clear global leader in the field of JAK inhibition, Pfizer is ideally positioned to advance this program and unlock its therapeutic potential," said Rick Winningham, chief executive of Theravance Biopharma.